Facebook Packs On Mobile Muscle in Q3

Mobile has become a massive growth  engine for Facebook, which said mobile daily active users crossed 1.09 billion in Q3, up 22% year-over-year. Overall DAUs were 1.18 billion, up 17%.

Monthly active users on the mobile side rose 20%, to 1.66, while the groader MAU category rose 16%, to 1.79.

Facebook said mobile advertising revenue represented about 84% of advertising revenue in Q3, up 78%.

Revenues surged 56%, to $7.01 billion, while net income jumped to $2.38 billion, or $1.09 per share, up from 57 cents. Both results beat Wall Street's expectations of 97 cents on revenues of $6.9 billion.

"We had another good quarter," Mark Zuckerberg, Facebook founder and CEO, said in a statement (or understatement). "We're making progress putting video first across our apps and executing our 10 year technology roadmap."